Innovation Management and Incentives Design Stanford Executive Brief with Antonio DÃ¡vila
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- The incentive sweet spot that drives product innovation.
- Successful strategies for defining goals and measurement systems.
- Radical versus incremental innovation, and the failure of a one-size-fits-all approach.
Creativity generates value when supported by an infrastructure that provides discipline without killing passion. Management systems for innovation therefore require careful design. It is crucial to understand the difference between incremental and radical innovation, and set goals and incentives that lead to the best outcome for your product. Large bonuses can snuff the excitement that engenders radical innovation, but inadequate financial motivation can hobble incremental innovation. The crucial elements are understanding your innovation needs, and ensuring that your strategies foster, rather than stifle, the creative strengths of your organization.
Professor DÃ¡vila has an MBA from the University of Navarra, and a PhD from the Harvard Business School. His research has been published in numerous academic and business journals, including the Harvard Business Review and the Journal of Accounting and Economics. DÃ¡vila is coauthor of the book "Making Innovation Work: How to Manage It, Measure It, and Profit from It."